CLPS announced that it has increased its ownership stake in Lihong Financial Information Services, an online lending platform company in China. CLPS made its first strategic investment in Lihong six months ago. Now the parties have agreed to increase the Company's ownership stake from 2.7% to 36.8%. Founded in 2015 and headquartered in Shanghai, Lihong's online lending platform uses big data technology to enable individual, small- and mid-sized Chinese banks to provide consumer loans with insurance policies acting as debt collateral.

CLPS Incorporation announced that effective December 21, 2018, Friedman LLP has tendered its resignation at the request of the Company and that Ernst & Young Hua Ming LLP has been appointed as the successor auditor. The appointment of EY as the successor auditor has been approved by the chair of the Audit Committee of the Company's Board of Directors. The reports of Friedman for all financial years for which it acted as auditor did not contain an adverse opinion or a disclaimer of opinion, nor were the auditors' reports of Friedman qualified or modified as to uncertainty, audit scope, or accounting principles. Furthermore, there were no reportable events caused by disagreement over any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures during the period.

CLPS announced that it has signed a memorandum of understanding with Ngee Ann Polytechnic and Infogain Solutions Pte. Ltd. to support NP's Financial Information Technology Education Program, which is offered by NP's School of InfoComm Technology. Throughout the three-year term of the MOU, CLPS and its Singapore subsidiary, ISPL, will provide at least one internship per academic year to NP-ICT students enrolled in the course, including possible internships with CLPS and ISPL vendors and customers. In addition, CLPS and ISPL staff and partners will be guest speakers at NP-ICT and be available as industry mentors. The three parties will also explore the design and development of post-diploma certificate programs customized for CLPS and ISPL clients.

11th Annual LD Micro Main Event Investment Conference will be held in Bel-Air, CA on December 4-6 with webcasted company presentations to begin on December 4 at 10:30 am; not all company presentations may be webcasted. Webcast Link

11th Annual LD Micro Main Event Investment Conference will be held in Bel-Air, CA on December 4-6 with webcasted company presentations to begin on December 4 at 10:30 am; not all company presentations may be webcasted. Webcast Link

CLPS Incorporation announced that the listing of its common shares has been transferred to the NASDAQ Global Market from the NASDAQ Capital Market. The company's common shares will begin trading on the NASDAQ Global Market effective at the start of trading on Wednesday, November 14, 2018 under the same symbol "CLPS."

Technovative Group has entered into a strategic partnership with CLPS Incorporation. Pursuant to the strategic partnership with CLPS Incorporation, Technovative is expected to supply and maintain, Artificial Intelligence, Big Data Analytics, Distributed Ledger Services and Cloud Computing solutions and technologies, to the many global clients of CLPS Incorporation in the United States, European Union, Australia, Hong Kong, and the PRC.

CLPS announced that, through its subsidiary CLPS Technology Pte. Ltd., it has acquired 80% of the equity of InfoGain Solutions Pte. Ltd. for cash consideration of approximately $420,000. Established in 2013, InfoGain is a consulting and IT services company headquartered in Singapore that specializes in staff augmentation services, managed IT services, software development, and business consulting. InfoGain's 70+ full time employees service various customers with a focus on banking and financial services.

CLPS announced that it has reached an agreement with GloBird Energy, a competitive cost energy provider in Australia, to establish a QR Code based billing service using the Q-Bill product to facilitate utility payments. In an effort to provide an efficient cash free payment system, CLPS and SuperPay, a widely used cross border payment brand in Australia, jointly launched Q-Bill, a QR-Code based payment system. The company, through its consolidated subsidiary, CLPS Technology, signed a service agreement with GloBird Energy dated June 13, pursuant to which the company will use Q-Bill to provide a QR Code billing for utility payments to GloBird Energy. Q-Bill will generate QR Codes for GloBird clients which can be scanned for mobile payments through widely adopted platforms, including Alipay and WeChat Pay. GloBird will be able to review and download the transaction data from a web portal.

CLPS Incorporation announced its strategic investment in Lihong Financial Information Services Co., an internet lending platform company in China. The company, through its wholly-owned subsidiary, Qiner Co., Limited, signed a shareholder agreement with Lihong dated as of June 19, 2018, pursuant to which, the company acquired a 2.7% ownership stake in Lihong in consideration for the purchase price of RMB1M. In addition, the company's will be entitled to appoint one representative to Lihong's Board of Directors, effective as of the date of this investment.